Meta shares soar after launch of Muse AI
AFP | San Francisco
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Meta shares bounced back to their summer 2025 highs this week, riding a wave of investor excitement about Muse, the social media giant's AI agent which presents an opportunity to generate revenue beyond advertising.
The stock gained 4.5% on Thursday after jumping more than 11% on Monday. At around $778, the share price has recovered from a late-March low around $525 a share, which came after two court rulings over the impact of its social networks on young people's mental health.
At the end of July, the Facebook and Instagram maker dropped again after earnings were weighed down by its spending on artificial intelligence, which could reach $145 billion this year. Concerns linger about whether Meta, which generates almost all of its revenue from advertising, will be able to make such monumental investments pay off.
Then Muse launched on September 18 in the United States and on September 18 in Canada. Muse is a multitasking AI assistant, or agent, that is capable of performing tasks on behalf of a user, such as booking trips, sending emails or making purchases.
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